Super butterfly in $ORCL for earnings tonight. We bought the 160, 175, 190 upside butterfly In front week and we financed it with a short put in the October monthly cycle. Net credit was a little over $2. You know what to do, LG.

So a few of the members in the founding member cohort of the OU Community @optionsuncapped suggested that it would be great if I did an EOD portfolio recap, so rain or shine, BEUs or 💰🔥 now that's exactly what we do. Here's today's entry: "Okay, looking at the portfolio, really nice day today. Very happy with how everything turned out. The morning was fine. We did a couple of trades in the afternoon, and those worked out with gold because gold was pretty active. We still have our long Nasdaq position with the short call against it. You can see our IBM trade got cleaned up right at 50% of max profit with the huge rally in IBM. We still have our AAPL strangle on, we still have our GLD strangle on, and we still have our META short call spread on. You can see we have no MES exposure, we have no MGC exposure, and we have no SLV exposure anymore. All in all, things are going really well. It kind of illustrates the point that I've been trying to make for the last few weeks in our streams: it doesn't take much at very modest levels of leverage to move forward with the premium and the futures, and obviously the option strategies and the EQTs, and just how everything kind of blends together. One thing that's very important to remember, however, is there are two sides to the distribution, right? There's the right-hand side, and there's the left-hand side. Right now, at least as it is, the last couple of days, we're definitely living on the right-hand side of the distribution. Things are working out. We're on a bit of a hot streak right now, which is great! Of course, not going to necessarily wish it away, but it's important to remember that we will live on the other side of the distribution as well. One thing that's helpful for me is just to continue business as usual (BAU). Not looking to scale, not looking to do anything super crazy. Just business as usual, looking to take advantage of market activity in a given equilibrium window. Not looking to necessarily jump out of my slides and trade all day long and all night long. This is not really the environment to do that because market volatility is still on the lower end. Right now, I'm just happy to be moving forward at a pretty significant pace. Even if things do cool down a little bit and we backtrack a bit, I feel really good about what we've been able to do so far." OU Community opens back up in about 4 weeks. If you want to know how you can be a part of it, just sign up for the Trading Lab: drjimtradinglab.com/tasty

The middle.  The boring, mundane, instagram-unworthy middle of the distribution.  Because leptokurtic distributions don't just hand you fatter tails than the normal distribution. They don’t just increase outlier frequency beyond what was otherwise expected. They also deliver a higher, more pronounced peak. And it’s smack dab in the center of it all. Thus, there are actually two important characteristics of a leptokurtic distribution, not just one.  Most traders are so fixated on the gotcha hiding in the tails that they all too often miss the gimme resting right in front of our faces. With the positive kurtosis that produces a leptokurtic distribution, yes, the markets will produce more extreme observations in the tails than normal distributions would predict. But, this same distribution simultaneously clusters more observations around the mean than normal distributions would anticipate, too.  More explosive. More subdued.  More chaos and more calm packaged into the same statistical framework. And that odd combination gives us unique opportunities. @optionsuncapped